The Gujarati girl Falguni Nayar who quit her high paying corporate job at 50 to become an entrepreneur herself has now become country’s wealthiest self-made woman. At 59, she overtook Kiran Majumdar Shaw of Bitcoin to become the second wealthiest Indian woman just behind Roshni Nadar.
The gritty investment banker-turned successful entrepreneur, Falguni Nayar who set up Nykaa brand for beauty products about a decade ago, is not sitting pretty at the second spot in the Kotak Private Banking-Hurun list of wealthiest Indian women, with a net worth of Rs 57,520 crore. The ‘Leading Wealthy Women 2021’ report was published on 27th July.
Roshni Nadar -Malhotra, the HCL chaiperson remained the richest Indian woman on the list. She has recorded a 54 percent jump in her net worth to Rs 84,330 crore in 2021. 40-year-old Roshni is the daughter of HCL Technologies’ founder Shiv Nadar.
Kiran Mazumdar-Shaw of Biocon witnessed a 21 percent decline in her wealth and had to hand over her second position to Falguni Nayar, being relegated to third With a wealth of Rs 29,030 crore.
Falguni Nayar has recorded a whopping 963% jump in her wealth, paling all in comparison. With hugely succesful Nykaa IPO last year, Falgni entered into the top 10 list of self-made women billionaires in the world with a massive $7.6 billion wealth.
Global consulting firm Ernst and Young had chosen her as “EY Entrepreneur of the Year 2021.” Her e-commerce app Nykaa, had also won the “EY Start-Up of the Year” in 2019.
The cumulative wealth of 100 women on the list account 2 percent of India’s nominal GDP. It has increased 53 percent in a year to Rs 4.16 lakh crore in 2021 from Rs 2.72 lakh crore in 2020. Interestingly, the cut-off for making it into the top 100 has increased to Rs 300 crore from Rs 100 crore earlier.